Jim Cantalupo

OAK BROOK, ILLINOIS: Mcdonald's served up its first-ever quarterly loss Thursday, a larger-than-expected $344m, paying the price for a fast-expansion strategy gone awry. Its results from the last three months of '02 included $810m in charges for restaurant closings and other write-offs, as a new management team moves to erase past problems following an unprecedented decline. The world's leading hamburger chain announced plans to close 719 of its 31,000 restaurants worldwide, and chief...

By Gregory S Carpenter In early 2003, McDonald's looked, from the outside, like the kind of company an ambitious executive should avoid. The fast-food giant had just booked its first quarterly loss since the 1960s. Comparable store sales had declined for two years. Customer satisfaction was low. McDonald's stock was tanking as the markets rallied. If things were so bad, why did Eric Leininger take a job with McDonald's rather than pursue one of the many...

NEW DELHI: McDonald's Corp, the US-based fast food giant which suffered its first-ever loss last quarter, can glean some comfort from its Indian operations. McDonald's India is poised to post a total break-even from its 48 stores in India, this year. "We have already emerged as one of McDonald's top ten operations in terms of average transactions per day in each of its outlets," said Vikram Bakshi, MD, Connaught Plaza Restaurant, McDonald's master franchisee in north India. ...

McDonald's Best thing in the world was always the Wimpey Coke Float, a creamy, fizzy cocktail of chemicals and animal fat that put just the biggest smile on your face. Then three decades or so ago McDonald's came to town, our backwater suddenly seemed a bit more urban, we more cool and Coke Floats so yesterday. Violent Barbie-pink shakes, so thick the sucking made your ears ache, were the thing. Those were innocent days. Wobbly thighs and furry arteries were simply accepted...

McDonald's Best thing in the world was always the Wimpey Coke Float, a creamy, fizzy cocktail of chemicals and animal fat that put just the biggest smile on your face. Then three decades or so ago McDonald's came to town, our backwater suddenly seemed a bit more urban, we more cool and Coke Floats so yesterday. Violent Barbie-pink shakes, so thick the sucking made your ears ache, were the thing. Those were innocent days. Wobbly thighs and furry arteries were simply accepted accessories...

One of the events that shook the corporate world's foundations this year happened when the biggest fast food chain on the planet declared its first ever quarterly loss. In January, McDonald's posted a net loss of $344 million for the October to December period, compared with a profit of $272 million in 2001. It wasn't such a surprise so much as a shock to the business system ? this was the eighth out of nine consecutive quarters in which McDonald's had posted lower year-on-year earnings.

NEW DELHI: Though fast food giant McDonald's Corp may be on a roll back, posting its first ever loss last quarter, it can have some succour from its Indian operation. Mac India is poised to post a total break even from its 48 stores in India, this year. "We have already emerged as McDonald's top 10 operations in terms of average transactions per day in each of its outlets," said Vikram Bakshi, MD, Connaught Plaza Restaurant Pvt Limited, Mac's master franchisee in north India. ...

By Gregory S Carpenter In early 2003, McDonald's looked, from the outside, like the kind of company an ambitious executive should avoid. The fast-food giant had just booked its first quarterly loss since the 1960s. Comparable store sales had declined for two years. Customer satisfaction was low. McDonald's stock was tanking as the markets rallied. If things were so bad, why did Eric Leininger take a job with McDonald's rather than pursue one of the many...

NEW YORK/CHICAGO: McDonald's Chief Executive Jack Greenberg on Thursday abruptly said he would retire, as the company that pioneered fast food struggled to cope with falling profit in a saturated hamburger market, the outbreaks of mad cow disease and poor service. Jim Cantalupo, former vice chair and president of the company, was named to succeed Greenberg, 60, when he leaves at year's end, the company said in a statement. The restaurant chain just eight months ago said Greenberg, once a...

NEW DELHI: McDonald's Corp, the US-based fast food giant which suffered its first-ever loss last quarter, can glean some comfort from its Indian operations. McDonald's India is poised to post a total break-even from its 48 stores in India, this year. "We have already emerged as one of McDonald's top ten operations in terms of average transactions per day in each of its outlets," said Vikram Bakshi, MD, Connaught Plaza Restaurant, McDonald's master franchisee in north India. ...

NEW DELHI: Though fast food giant McDonald's Corp may be on a roll back, posting its first ever loss last quarter, it can have some succour from its Indian operation. Mac India is poised to post a total break even from its 48 stores in India, this year. "We have already emerged as McDonald's top 10 operations in terms of average transactions per day in each of its outlets," said Vikram Bakshi, MD, Connaught Plaza Restaurant Pvt Limited, Mac's master franchisee in north...

OAK BROOK, ILLINOIS: Mcdonald's served up its first-ever quarterly loss Thursday, a larger-than-expected $344m, paying the price for a fast-expansion strategy gone awry. Its results from the last three months of '02 included $810m in charges for restaurant closings and other write-offs, as a new management team moves to erase past problems following an unprecedented decline. The world's leading hamburger chain announced plans to close 719 of its 31,000 restaurants worldwide, and chief...

NEW YORK/CHICAGO: McDonald's Chief Executive Jack Greenberg on Thursday abruptly said he would retire, as the company that pioneered fast food struggled to cope with falling profit in a saturated hamburger market, the outbreaks of mad cow disease and poor service. Jim Cantalupo, former vice chair and president of the company, was named to succeed Greenberg, 60, when he leaves at year's end, the company said in a statement. The restaurant chain just eight months ago said Greenberg, once a...